UK Banking. Access the faster payments system with LBX

Starting from today, we’re offering pre-registered and premium users a secure, speedy, and seamless way to conduct crypto and GBP transactions through our Crypto Payment Accounts.

UK Banking. Access the faster payments system with LBX

Every trader wants to make sure their transactions are conducted with maximum speed, security, and convenience. So we’re delighted to announce that LBX – the UK’s only dedicated multi-cryptocurrency exchange – will be offering members access to the Faster Payments Service (FPS) through our exclusive Crypto Payment Accounts.

It’s a big moment for us, a big moment for our users, and a big moment in UK cryptocurrency history. Here’s why.

What is the Faster Payments Service, and why should I care?

Launched in 2008 in collaboration with all major UK banks, FPS is exactly what it sounds like: a service that facilitates rapid transactions. Where a standard BACS payment might take up to three days, FPS payments typically take a few hours.

By offering users the ability to transfer GBP to digital currencies – and vice versa – this partnership alleviates a major pain point for cryptocurrency enthusiasts and newcomers alike. You can trade with full confidence, knowing that you have the levels of security and protection associated with UK banking

What does this mean for LBX customers?

Starting from today, we’re offering pre-registered and premium users a secure, speedy, and seamless way to conduct crypto and GBP transactions through our Crypto Payment Accounts.

Successfully apply for a premium account and you’ll benefit from preferential withdrawal fees (all members will enjoy fee free deposits). These accounts are offered on a strictly first-come, first-serve basis, and – with thorough Know Your Customer (KYC) and anti-money laundering (AML) processes in place – application processing is expected to take a number of weeks. We’re expecting high demand, so make sure to apply sooner rather than later to avoid disappointment.

LBX Founder and CEO Benjamin Dives, said:

“We are creating a service where all steps of the cryptocurrency investment journey are seamless and straightforward.

“Crypto enthusiasts have been long calling for this, but equally, new customers will be able to find in LBX a grown up, reliable and comprehensive service that they can trust. It’s just another step in cryptocurrency’s maturation in the UK.”